Lenders › 1st Financial Bank USA
7(a) lenderDakota Dunes, South DakotaFDIC-insured bank357th of 2,184 by approvals
1st Financial Bank USA
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
In FY2021 to FY2025 SBA approved 84 7(a) loans, worth $167M, through 1st Financial Bank USA of Dakota Dunes, South Dakota, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 357th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 24 approvals totalling $47.0M, about level with FY2024 (24). FY2026 to 30 Jun 2026 adds 12 more.
The median approval was $1.5M, against $190K for the 7(a) program as a whole; 0.0% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 23 states and territories and 66 counties, led by Florida (21.4%), North Carolina (11.9%) and Texas (10.7%). The largest industry group was construction at 100.0% of approvals.
1st Financial Bank USA has fewer than 30 disbursed loans from the FY2010 to FY2021 approval years on record, too few for a charge-off rate to be shown.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 12 | $20.6M | $1.4M | $1.7M | 49 |
| FY2025 | 24 | $47.0M | $1.3M | $2.0M | 132 |
| FY2024 | 24 | $32.1M | $1.3M | $1.3M | 190 |
| FY2023 | 18 | $32.8M | $1.0M | $1.8M | 430 |
| FY2022 | 12 | $32.3M | $2.3M | $2.7M | 135 |
| FY2021 | 6 | $22.8M | $4.3M | $3.8M | 35 |
| FY2020 | 1 | — | — | — | 9 |
| FY2019 | 0 | — | — | — | 0 |
| FY2018 | 0 | — | — | — | 0 |
| FY2017 | 0 | — | — | — | 0 |
| FY2016 | 1 | — | — | — | 4 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 2 approvals. First approval on file: FY2011.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Florida | 7(a) program |
|---|---|---|---|
| Approvals in these years | 10 | 31,863 | 639,905 |
| Cancelled or never disbursed | 1 | 3,596 | 79,313 |
| Disbursed loans | 9 | 28,267 | 560,592 |
| Paid in full | 4 | 20,064 | 435,813 |
| Charged off | 1 | 2,783 | 36,891 |
| Still outstanding (status exempt from disclosure) | 4 | 5,420 | 87,888 |
| Charged off, share of disbursed loans | too few loans | 9.8% | 6.6% |
| Dollars charged off, share of disbursed dollars | too few loans | 3.1% | 2.5% |
| Dollars charged off | — | $442M | $5.70bn |
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $1.5M | $190K |
| Average approval | $2.0M | $518K |
| Approvals of $150,000 or less | 0.0% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 1.2% | 34.3% |
| Approvals to franchise businesses | 0.0% | 11.5% |
| Jobs supported per approval, as reported | 11.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | too few loans | 6.6% |
States served
| # | State of the business (23 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Florida | 18 | $39.0M | 21.4% | |
| 2 | North Carolina | 10 | $13.6M | 11.9% | |
| 3 | Texas | 9 | $15.2M | 10.7% | |
| 4 | Colorado | 5 | $11.7M | 6.0% | |
| 5 | South Carolina | 4 | $13.5M | 4.8% | |
| 6 | Michigan | 4 | $10.7M | 4.8% | |
| 7 | Ohio | 4 | $10.0M | 4.8% | |
| 8 | Indiana | 4 | $9.5M | 4.8% | |
| 9 | Georgia | 3 | $3.5M | 3.6% | |
| 10 | Utah | 3 | $3.0M | 3.6% | |
| 11 | Arizona | 3 | $2.5M | 3.6% | |
| 12 | Idaho | 2 | — | 2.4% |
In Florida the lender accounts for 0.1% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (66 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Orange County, FL | 4 | $13.5M | 4.8% | |
| 2 | St. Lucie County, FL | 3 | $4.0M | 3.6% | |
| 3 | Lee County, FL | 3 | $3.9M | 3.6% | |
| 4 | Livingston County, MI | 2 | — | 2.4% | |
| 5 | Arapahoe County, CO | 2 | — | 2.4% | |
| 6 | Hillsborough County, FL | 2 | — | 2.4% | |
| 7 | Mesa County, CO | 2 | — | 2.4% | |
| 8 | Montgomery County, OH | 2 | — | 2.4% | |
| 9 | Bexar County, TX | 2 | — | 2.4% | |
| 10 | Mecklenburg County, NC | 2 | — | 2.4% | |
| 11 | Fulton County, GA | 2 | — | 2.4% | |
| 12 | Guilford County, NC | 2 | — | 2.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 84 | 100.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Residential Building ConstructionNAICS 2361 | 83 | 98.8% | |
| 2 | Nonresidential Building ConstructionNAICS 2362 | 1 | 1.2% |
Approval sizes
- $150,001 to $350,0001.2%1
- $350,001 to $1 million44.0%37
- $1 million to $2 million27.4%23
- Over $2 million27.4%23
Loan terms
- 5 years or less100.0%84
Age of the businesses
- Existing, more than 2 years old98.8%83
- New business, 2 years or less1.2%1
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Builders CAPLine | 82 | 97.6% | |
| 2 | 7a General | 2 | 2.4% |
Franchise share
0 of 84 approvals in FY2021–FY2025 (0.0%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
Questions and answers
How many SBA loans does 1st Financial Bank USA make?
SBA approved 24 7(a) loans through 1st Financial Bank USA in FY2025, worth $47.0M, and 84 over FY2021 to FY2025. That ranks 357th of 2,184 active 7(a) lenders by number of approvals.
How large are 1st Financial Bank USA's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $1.5M and the average $2.0M. The program-wide median was $190K.
What is 1st Financial Bank USA's charge-off rate?
1st Financial Bank USA has fewer than 30 disbursed loans from the FY2010 to FY2021 approval years on record, too few for a charge-off rate to be shown. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does 1st Financial Bank USA lend to most?
By number of approvals in FY2021 to FY2025: residential building construction (83); nonresidential building construction (1).
Where does 1st Financial Bank USA make SBA loans?
In 23 states and territories. Florida 18, North Carolina 10, Texas 9, Colorado 5, South Carolina 4. In Florida it accounts for 0.1% of all 7(a) approvals.
Is 1st Financial Bank USA's SBA lending rising?
Approvals in the three latest complete fiscal years total 66, against 19 in the three before: rising (+247%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error